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The national audit office has put the blame for the collapse of the energy supply sector squarely at the feet of the energy regulator Ofgem. The National Audit Office said Ofgem had allowed suppliers to enter the market and operate with weak financial resilience and...
A number of UK suppliers have withdrawn from the gas and electricity supply market, due to a surge in gas prices. Russia’s Gazprom announced a reduction in additional gas exports, with a 60% reduction in flows through Nord Stream 1 to Germany. This is seen as an...
Over 30% of UK businesses have been forced to increase prices to keep up with the rising costs of energy and foodstuffs. The average UK micro business, if renewing both its electricity and gas contract within the current climate, would see its annual energy cost...
The Monetary Policy Committee of the Bank of England has voted to boost UK interest rates to 0.5 percent in response to inflation reaching its highest level in 30 years. The Bank of England now predicts that inflation will peak in April 2023 at roughly 7.25 percent....
Businesses are suffering from significant rises in the cost of power and gas - try these simple actions from comparison site Digital Energy Revolution to offset rising energy prices. Try these simple strategies to assist your business in dealing with skyrocketing...
The global rise in gas prices has already had a huge impact on energy-intensive small businesses. While domestic households still remain relatively protected with the energy price caps, smaller businesses are faced with outrageous quotes for business energy that seems...
This week BP has cashed in on surging oil and gas prices, with profits amounting to £9.45 billion, the highest recorded in eight years. BP closely follows Shell who also reported annual profits of £14.3bn, which analysts believe will grow to £23.6bn by the end of its...
Small businesses are being charged over 300% more for exactly the same energy as domestic customers. While many people are rightly concerned about the 54% rise in the energy price cap, there’s a lack of interest in the predicament facing small businesses. They are...
A green levy on energy bills covering the cost of insulation for the poorest households could be cut to reduce the burden UK households are facing from ultra-high gas prices. According to the Times, the treasury is reviewing the energy company obligation (ECO) a £1...
The answer is yes, according to the Chief executive of Centrica, Chris O’Shea Chief executive of Centrica (British Gas owner), Chris O’Shea has expressed that soaring energy prices which threaten the living standards of millions – could last up to two years causing...
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